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Got 5 with no trades, don't know why
I take it as diluting the environment.
Is that why sales are falling:
'CV Sciences is utilizing word of mouth and Repeat Business'
It’s very disappointing that from below:
10 Best CBD Gummies Of February 2023
https://www.forbes.com/health/body/best-cbd-gummies/
and
13 best CBD gummies of 2023: Comparison, value, taste
https://www.medicalnewstoday.com/articles/best-cbd-gummies
Not one of them is CVSI product. It’s says something doesn’t it.
However not all is lost, the ones above are getting free advertising, promotion, what have you.
And to be honest, some of those I have taken are pretty good.
No, I left nothing out. Here is the full 10Q. It’s listed under the sector I mentioned.
https://www.sec.gov/ix?doc=/Archives/edgar/data/1510964/000151096422000088/cvsi-20220930.htm
As far as your hopefully and Could it be stuff, I’ll just go with the facts.
As far as Tomc, just go to google and type in his name, you get the current listing Stuart Tomc - Brand Ambassador - Nordic Naturals | LinkedInhttps://www.linkedin.com › stuart-tomc-b114b2a1
Aptos, California, United States · Brand Ambassador · Nordic Naturals
Just a fact and is all and up to date unlike the web site you posted.
As far as the other mumble jumbo disconnected rambling you have, I simply don’t know what your saying, sorry.
Facts over stories I'm afraid. Facts over make believe as well. Have a good sunday.
In cvsi’s 10q from the 3rd quarter the company presented under “ORGANIZATION AND BUSINESS” the following passage -
The Company's operating results and accumulated deficit, amongst other factors, raise substantial doubt about the Company's ability to continue as a going concern. The Company will continue to pursue the actions outlined above, as well as work towards increasing revenue and operating cash flows to meet its future liquidity requirements. However, there can be no assurance that the Company will be successful in any capital-raising efforts that it may undertake, and the failure of the Company to raise additional capital could adversely affect its future operations and viability.
And from that “The Company's operating results and accumulated deficit, amongst other factors, raise substantial doubt about the Company's ability to continue as a going concern”
Operating results in regards to this company shows losses every quarter for 3 years in a row. I don’t believe there will be much help from the operating results, I do believe there will be even more losses, which I would think leads to a business loan from somewhere.
“ there can be no assurance that the Company will be successful in any capital-raising efforts”
there have been no capital-raising in regards to business loans in Oct, nor Nov, Dec, Jan, and here we are in Feb. So, at what point do we entertain the-
“and the failure of the Company to raise additional capital could adversely affect its future operations and viability” .
I think it’s a fair question. And so, what exactly are all the implications? All IMO
In regards to Stuart Tomc and his leaving CVSI. Several different opinions here. I have one as well. For the last 2 years he worked at cvsi his title was Vice President of Business Development.
For the last 2 years a person can surely question what effect there has been under business development. Not a lot to hang your hat on there it would seem.
Now he did go back to Nordic Naturals, where he worked for 8 years. Good for him. Also, of note he was not covered by any golden parachute. He apparently did collect him RSU’s.
cvsi could have at any time over the last 2 years introduced a product with omega 3, they did not. Either they never considered it or decided against it, had they, they would have had the perfect point man right there in house. Nevertheless, he is gone, missed opportunity. If they are truly going to produce a product now with omega 3 after losing Tomc, then that missed opportunity turns into a massive failure on their part.
Now we have no idea whatsoever that they are even considering having such a product with omega 3, no indication from the company at all, nor do we have any idea that Nordic Naturals is even considering having their product mix with a cbd product. The only talk of such a thing comes from another on this board, and their opinion is could be maybe, but currently there is nothing there to even consider it. IMO
Over 8000 dollars in trades today, moving on up. 11 mm swaps would bring that down about 30 percent but what the hey!
Well good, they are trying to increase sales. Don’t know if they’re replacing someone or taking it in house, but it clearly hasn’t been working very well, or not as well as it should be. The wage, eh, since it’s remote, they can pick up somebody from anywhere, India, China, they do pretty good out of Vietnam nowadays with that stuff.
Busy today, already 907 in dollars traded.
No, they don't, you are wrong, and this without question. 3 times you have posted this wrong data, once a month it seems.
A little slow today, only 259 dollars in trades so far.
Your welcome
Interesting.
I do agree, not the time to sell
I still remember back in Nov of 2019 when he stated to an analyst during a CC call, that we should have this FDA thing figured out by the end of the year. LMAO! That was back when there were analyst’s still following this one. Now we just have CC’s and nobody shows up. That is pathetic, but also a statement of sorts.
It's a fair point. They will not be able to do anything with it , the cost of trying would be many times more than what the company is even worth. And it's no sure thing. No, it's a dead issue with a dead stock. IMO
No, they are seeking a loan and they said as much. Dire comes to mind. As far as diluting the shares, sure, let’s look at that. At the current price for every 25,000,000 shares they dilute, they capture 1 mil in dollars. Their burn rate per the 10q for the first 9 MO’s is a loss of 7.5 mil. About 2.5 million per qt. So, if they do dilute that 2.5 million in quarterly losses to stay in business,they need to do 67.5 million, a quarter. But what you’re not factoring is what is that going to do with the price of the share, how is the market going to absorb it?
You know a better way is to finally sell their product, profitably. This falling sales month after month, year after year might just be the bigger problem.
From the National Law Review
FDA Announces Important Shift in CBD Products Regulation
Monday, January 30, 2023
In the pilot episode of NBC’s Parks and Recreation, Leslie Knope, deputy director of the Pawnee Parks and Recreation Department, promises her constituents she will fill in “the pit” that has become a hazard to her community and will build a park in its place. Despite the roadblocks and red tape, Leslie delivers on her promise and turns the pit into a beautiful park. FDA’s most recent announcement regarding the agency’s CBD products regulatory framework is reminiscent of Leslie Knope’s “pit”: Both leave you feeling lost without any tools (i.e., regulations) to climb out. But our team, like Leslie Knope, is eager, determined, and prepared to tackle the issues presented by the FDA’s announcement.
On January 26, 2023, FDA announced that “existing regulatory frameworks for foods and supplements” are not “appropriate” for CBD products and a new pathway to regulate CBD products is required. In accordance with its vision for a new CBD product regulatory framework, FDA denied citizen petitions requesting that the agency “conduct rulemaking to allow the marketing of CBD products as dietary supplements.” FDA intends to work with Congress and initiate a “cross-agency strategy” to create the new regulatory framework for CBD products. This announcement previews indefinite waiting for new regulations, which would be enough to make Leslie Knope’s boss, Ron Swanson (ironically a major critic of government intervention), frown.
FDA’s announcement comes after a “high-level internal working” agency group met to review regulatory framework options for CBD products. The group reviewed studies (some of which were agency commissioned) and scientific literature to inform its decisions.
The agency’s announcement discussed the need to balance consumers’ desire to use CBD products against the need for a regulatory framework to mitigate risk. According to FDA, the agency cannot measure how much CBD or how long CBD may be consumed safely. As we discussed in a previous post, FDA maintains risks of “long-term” CBD use include harm to the liver and male reproductive system and “interactions with certain medications.” FDA noted CBD exposure is also “concerning” for “vulnerable” populations, including “children and those who are pregnant.” An additional FDA concern relates to CBD products for animals. Individuals who consume products from animals receiving CBD may be unwittingly exposed to CBD. FDA proposed potential CBD product regulations to mitigate the risks discussed above that could require “clear labels, prevention of contaminants, CBD content limits, . . . and minimum purchase age.”
As we wait for FDA and Congress to enact a new regulatory framework for CBD products, FDA already promised to continue to “take action against CBD and other cannabis-derived products” to protect the public as necessary. This requires CBD industry members to carefully navigate this unchartered territory. The National Cannabis Industry Association (NCIA) published a statement regarding FDA’s announcement, reporting “[c]annabis industry advocates are disappointed with this result . . . but are hopeful the decision will put more pressure on Congress to move to sensibly regulate CBD and other cannabis products.” That, of course, has now become an ever more critical piece of the 2023 Farm Bill, which is currently being developed and debated in the halls of Congress. Where FDA and Congress will land remains to be seen, so as the CBD industry awaits a new regulatory framework, we’ll be here to help you navigate the “pit” falls of the current framework. In the interim, continue to watch this space as we provide regulatory updates.
Alright a up day with a total of 3700 in dollars traded. For those keeping track 9000 shares on the buy side, 83,000 on the sell side, but intermixed with those were 9 MM’s switch trades it appears. All in all a little light even for a dead in the water stock.
In reading cvsi’s 10Q from two months ago, the part of “, raise substantial doubt about the Company's ability to continue as a going concern’ what they don’t mention is just how much are they going to have to raise. That’s a problem.
From the 10q-
The Company's operating results and accumulated deficit, amongst other factors, raise substantial doubt about the Company's ability to continue as a going concern. The Company will continue to pursue the actions outlined above, as well as work towards increasing revenue and operating cash flows to meet its future liquidity requirements. However, there can be no assurance that the Company will be successful in any capital-raising efforts that it may undertake, and the failure of the Company to raise additional capital could adversely affect its future operations and viability.
In ref. to actions outlined and again from the 10Q
Liquidity Considerations - U.S. GAAP requires management to assess a company's ability to continue as a going concern for a period of one year from the financial statement issuance date and to provide related note disclosure in certain circumstances. The accompanying financial statements and notes have been prepared assuming the Company will continue as a going concern. For the nine months ended September 30, 2022 and the year ended December 31, 2021, the Company generated negative cash flows from operations of $2.1 million and $7.5 million, respectively. In addition, the Company had an accumulated deficit of $85.4 million as of September 30, 2022. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operations, growth initiatives and to continue to make and implement strategic cost reductions, including reductions in employee headcount, vendor spending, and delaying expenses related to its drug development activities. The Company intends to position itself so that it will be able to raise additional funds through the capital markets, issuance of debt, and/or securing lines of credit.
Anybody want to give them a loan?
So is this going to slow down cvsi’s one and only chance to sell out to CW. I’m thinking 3 million at most mainly because of that GP. Now many will argue that’ it’s not worth that . . . well there right, maybe 1.5 million including the GP. It's sounds fair. imo
The FDA won’t approve cbd, so they bumped it up to congress and stated there needs to be a different way to regulate and control cbd. Congress will now write the rule book on this and being experts on it they will no doubt defer to whoever donates the most money. No elections this year so no rush.imo
cvsi is in no position to be in a merger at this time, nor after this long were there any takers anyway.IMO
The question as to why the VP left is either down to cvsi could longer afford him, or he wanted out whilr the getting was still good. IMO
at the end of the day cvsi's failure was simply, they just can't sell the product, profit has become just a dream.
Dowling doesn't seems to have any interest in buying stock in this company, and yes I know he is the CEO, but you are right about him being wise not buying any, his losses would have been staggering.
About the other issue you mentioned earlier, yes, very subjective and that’s unfortunate.
Probable partnership you say? And I think you mentioned by sometime in March. I happen to be of the opinion that it’s not going to happen. But March isn’t that far away to see which one of us is wrong. I do think the FDA has opened up and created an interesting situation with their request to congress which could result with many different ramifications, if you go with all the sources now reporting. However, none seem to think it will happen quickly. No matter I have the time.
We’ll know soon enough with the 4qt and year end. In looking at the last 10q from Nov. they had 1.1 mil in cash and 1.4 mil in debt. The accumulated deficit was still growing at neg 85 mil. And again, for that 9 mo. mark the gross profit was 3.988 mil. but their operating expenses were 8.7 mil leaving them an operating loss of 4.7 mil and a net loss of neg 5.9 mil and with that deemed dividend for beneficial conversion of Series A convertible preferred stock of 920 thou you have a net loss attributable to common stockholders of 6.8 mil. They also diluted roughly 40 mil shares but no matter.
At the end of the day I hope your right, that they are maybe close to stopping the fall, we’ll see when the SEC filing come out. All the have to do is sell their product. That is the sole reason they are in business, to sell. With covid being reduced I’m hoping for at least something north of 5.0 mil in revenue with at least a breakeven. If they can’t do that than what’s the point. Losses just don’t get it done. IMO
It has EVERYTHING to do with it. If there ever was a remote chance of a deal it's dead now.
Agreed.
FDA- It’s no better than any of the other government divisions that make the rules we all have to live by. I could go off on the lobbyists who control, the reasoning of what they all vote for, regardless of what the people want, or against what the people voted them in for. But it’s Friday, not going to ruin my weekend.
Work with congress, well that puts it in the 2025 to 2030 bracket I would guess.
LMAO, what a deal.
from the FDA - Given the growing cannabidiol (CBD) products market, the U.S. Food and Drug Administration convened a high-level internal working group to explore potential regulatory pathways for CBD products. Today we are announcing that after careful review, the FDA has concluded that a new regulatory pathway for CBD is needed that balances individuals’ desire for access to CBD products with the regulatory oversight needed to manage risks. The agency is prepared to work with Congress on this matter. Today, we are also denying three citizen petitions that had asked the agency to conduct rulemaking to allow the marketing of CBD products as dietary supplements.
The use of CBD raises various safety concerns, especially with long-term use. Studies have shown the potential for harm to the liver, interactions with certain medications and possible harm to the male reproductive system. CBD exposure is also concerning when it comes to certain vulnerable populations such as children and those who are pregnant.
A new regulatory pathway would benefit consumers by providing safeguards and oversight to manage and minimize risks related to CBD products. Some risk management tools could include clear labels, prevention of contaminants, CBD content limits, and measures, such as minimum purchase age, to mitigate the risk of ingestion by children. In addition, a new pathway could provide access and oversight for certain CBD-containing products for animals.
The FDA’s existing foods and dietary supplement authorities provide only limited tools for managing many of the risks associated with CBD products. Under the law, any substance, including CBD, must meet specific safety standards to be lawfully marketed as a dietary supplement or food additive.
The working group, which I chair, has closely examined studies related to the CBD-based drug Epidiolex, published scientific literature, information submitted to a public docket, as well as studies both conducted and commissioned by the agency. Given the available evidence, it is not apparent how CBD products could meet safety standards for dietary supplements or food additives. For example, we have not found adequate evidence to determine how much CBD can be consumed, and for how long, before causing harm. Therefore, we do not intend to pursue rulemaking allowing the use of CBD in dietary supplements or conventional foods.
CBD also poses risks to animals, and people could be unknowingly exposed to CBD through meat, milk and eggs from animals fed CBD. Because it is not apparent how CBD products could meet the safety standard for substances in animal food, we also do not intend to pursue rulemaking allowing the use of CBD in animal food. A new regulatory pathway could provide access and oversight for certain CBD-containing products for animals.
The FDA will continue to take action against CBD and other cannabis-derived products to protect the public, in coordination with state regulatory partners, when appropriate. We will remain diligent in monitoring the marketplace, identifying products that pose risks and acting within our authorities. The FDA looks forward to working with Congress to develop a cross-agency strategy for the regulation of these products to protect the public’s health and safety.
Well, that's very possible. Clearly the timeline would fit.
Ya, it's quite the long game they played.
Well says it all, The U.S. Food and Drug Administration announced Thursday that it will not review or allow the marketing of cannabidiol, or CBD, products as food items or dietary supplements.
one less thing to worry about.
It also kills off any NN merger talk I would think unless they don't want to sell their products!
NOTE FYI only here --- FDA says new process is needed for regulating CBD products due to risks
The FDA said there are too many safety concerns from using CBD.
ByMary Kekatos
January 26, 2023, 3:35 PM
6:09
The ABCs of CBD
Milly Almodovar is here to answer Michael and Sara's questions about CBD.
The U.S. Food and Drug Administration announced Thursday that it will not review or allow the marketing of cannabidiol, or CBD, products as food items or dietary supplements.
Up until recently, the health agency has not allowed any company to make claims about health benefits from wellness CBD products.
MORE: Inside the Wild West of the CBD products industry
The FDA said after "careful review" it has determined that its current framework for evaluating food and supplements is not set up well for CBD because of safety risks and that substances, including CBD, have to meet specific safety standards to be lawfully marketed as a dietary supplement or a food additive.
"The use of CBD raises various safety concerns, especially with long-term use," FDA Principal Deputy Commissioner Dr. Janet Woodcock said in a statement. "Studies have shown the potential for harm to the liver, interactions with certain medications and possible harm to the male reproductive system."
PHOTO: The Food and Drug Administration headquarters is seen in White Oak, Md., Nov. 9, 2015.
The Food and Drug Administration headquarters is seen in White Oak, Md., Nov. 9, 2015.
CQ Roll Call/Getty Images
The statement continued, "CBD exposure is also concerning when it comes to certain vulnerable populations such as children and those who are pregnant."
Woodcock said animals are also at risk of side effects from CBD. People might not know they've been exposed to the ingredient if they consume meat, milk and eggs from animals fed CBD, she said.
"Because it is not apparent how CBD products could meet the safety standard for substances in animal food, we also do not intend to pursue rulemaking allowing the use of CBD in animal food," she said.
The FDA said it plans to "work with Congress" to create new rules for regulating these products, which could include requiring clear labels, preventing contamination, content limits and even a minimum purchase age.
CBD and tetrahydrocannabinol, or THC, both come from the cannabis plant. While THC is the main psychoactive ingredient that gives users the "high," CBD is believed to behind therapeutic effects associated with marijuana such as relief from nausea and pain relief.
MORE: Recreational marijuana legalized in 2 states, rejected in 3 in 2022 election referendums
The agency also announced it is denying three petitions submitted by citizens asking CBD products to be marketed as dietary supplements.
"Given the available evidence, it is not apparent how CBD products could meet safety standards for dietary supplements or food additives," Woodcock said. "For example, we have not found adequate evidence to determine how much CBD can be consumed, and for how long, before causing harm. Therefore, we do not intend to pursue rulemaking allowing the use of CBD in dietary supplements or conventional foods."
https://abcnews.go.com/Health/fda-new-process-needed-regulating-cbd-products-due/story?id=96694291
He's gone. But why? Stuart Tomc
Brand Ambassador at Nordic Naturals
Aptos, California, United States
Brand Ambassador
Nordic Naturals
Jan 2023 - Present1 month
Watsonville, California, United States
“My add here present you say”
CV Sciences, Inc.
8 years 8 months
Vice President Of Business Development
Jan 2021 - Jan 2023 2 years 1 month
San Diego, California, United States
{not present}
As an added bonus
Michael J Mona, III
Chief Operating Officer & Co-Founder
CV Sciences
Jan 2013 - Present10 years 1 month
As a co-founder and COO of CV Sciences, I oversee the day-to-day operations of our business, in addition to managing supply chain, product development, European and domestic production, laboratory operations, and fulfillment. Further, I am responsible for leading, managing and growing our current and future operations as we expand our distinct divisions: pharmaceuticals and consumer products.
{present}
The real question is why did he leave?